‘Simply fake’: The dossier that warned about Sanjeev Gupta
A report compiled by private investigators for Credit Suisse alleges the global steel tycoon was a clear participant in major fraud, with trades that never happened.
A small group of bankers at Credit Suisse, who had long mistrusted Sanjeev Gupta and his group of companies known as Liberty House, hired a private intelligence firm in 2018 to probe his dealings. Ben Searcy
The report that landed on the desks of Credit Suisse executives was a bombshell: Sanjeev Gupta, a global steel tycoon and one of the bank’s key borrowers, was a “clear participant” in a multi-billion dollar fraud, it claimed.
It was November 2018, and a small group of bankers at Credit Suisse, who had long mistrusted Gupta and his group of companies known as Liberty House, had hired a private intelligence firm to probe his dealings. Now they were flagging its eye-popping conclusion to their superiors: he was, the report claimed, a central player in a web of companies that had made many trades that were “simply fake”.
